S&P affirms Montenegro

Standard & Poor's said it affirmed its BB long-term and B short-term sovereign credit ratings on the Republic of Montenegro. The outlook remains negative.

Montenegro's transfer and convertibility assessment is unchanged at AAA.

S&P said the ratings on Montenegro balance the country's weak external position and lack of monetary flexibility against its high levels of prosperity, its stable political environment and its moderate government debt burden, compared with similarly rated sovereigns.

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